World’s First Bitcoin Binary Options trading dApp has arrived

The Ethereum based dApp BitSwing functions like a brokerage

The scope of trading instruments available in Cryptocurrencies continues to broaden. The newest edition to this landscape is a decentralized trading app dubbed as BitSwing — world-first fully decentralized binary options trading app on Ethereum Mainnet. Sequoia Capital-backed data management startup, Band Protocol, is behind the endeavor.

Binary options are financial instruments that are based on a yes or no proposition. Just like the 0 & 1 binary digits in computers, they come with one of the two payoff options — where both the gains and losses are capped. There are just two outcomes possible, that’s why they are called binary options. The premise on which binary options trading is based on is whether the underlying asset will be above or below a certain price at a certain time.

The simplicity of a yes or no trade in binary options entices many, especially the new entrants to the market, who don’t understand the complexities of other financial instruments & risk management. Others yet, dislike them for being too speculative in nature. It all depends on your risk profile, available capital & the trading style you are comfortable with.